Wire rod makers in Raipur and Durgapur have increased their offers by INR 2,000/MT and INR 2,500/MT respectively during Sep’16.
Indian wire rod offers in Raipur and Durgapur have surged by INR 2,000/MT and INR 2,500/MT respectively during the month of Sep’16.
Large domestic steel producers like RINL and SAIL have also increased their offers by INR 1,500-2,000/MT during Sep’16.
The major reason behind increase in wire rod prices is sharp rise in raw material i.e. billet during the same period.
Demand from the downstream industry like Binding wire, GI wire and barbed wire was average from the last few weeks.
Recently on 27 Sep’16, Indian government recommended to impose anti-dumping duty on wire rod from China, which is certainly a positive move for the domestic wire rod manufactures.
Indian billet and wire prices as on 3 Oct’16
| City | MS Billet | M-o-M | 5.5 mm Wire Rod | M-o-M | Monthly Average wire rod prices (Sep’16) | Monthly Average wire rod prices (Aug’16) | % Change |
| Raipur | 22,550 | +1,800 | 27,100 | +2,000 | 26,200 | 24,900 | +5% |
| Durgapur | 22,150 | +1,500 | 25,500 | +2,500 | 24,500 | 22,700 | +8% |
Basic prices in INR/MT; ED and VAT/CST extra
Source: SteelMint Research
Note : Prices are basic
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